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Brinks Co (BCO) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

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Brinks Co

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CIK: 78890 Ticker: BCO
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Exhibit 99.1
Contact: Investor Relations
pressreleasea14.jpg
804.289.9709
FOR IMMEDIATE RELEASE

Brink’s Reports Fourth-Quarter and Full-Year Earnings
Strong Fourth-Quarter Earnings Growth Led by Continued Momentum in U.S. and Mexico
 
RICHMOND, Va., February 6, 2019 – The Brink’s Company (NYSE:BCO), the global leader in total cash management, route-based secure logistics and payment solutions, today announced fourth-quarter and full-year results.
(In millions, except for per share amounts)
Fourth-Quarter 2018
 
 
 
GAAP
 
Change vs. 2017
 
Non-GAAP
 
Change vs. 2017
 
Constant Currency Change(b)
Revenue
$
908

 
0%
 
$
908

 
5%
 
16%
Operating Profit
$
81

 
(8%)
 
$
104

 
15%
 
44%
Operating Margin
8.9
%
 
(90 bps)
 
11.4
%
 
90 bps
 
250 bps
Net Income / Adjusted EBITDA(a)
$
35

 
fav
 
$
147

 
13%
 
35%
EPS
$
0.68

 
fav
 
$
1.05

 
11%
 
46%
(In millions, except for per share amounts)
Full Year 2018
 
 
 
GAAP
 
Change vs. 2017
 
Non-GAAP
 
Change vs. 2017
 
Constant Currency Change(b)
Revenue
$
3,489

 
4%
 
$
3,438

 
8%
 
14%
Operating Profit
$
275

 
0%
 
$
347

 
23%
 
48%
Operating Margin
7.9
%
 
(30 bps)
 
10.1
%
 
130 bps
 
270 bps
Net Income / Adjusted EBITDA(a)
$
(33
)
 
unfav
 
$
512

 
20%
 
37%
EPS
$
(0.65
)
 
unfav
 
$
3.46

 
14%
 
44%
(a)
The non-GAAP financial metric, adjusted EBITDA, is presented with its corresponding GAAP metric, net income attributable to Brink's.
(b)
Constant currency represents 2018 results at 2017 exchange rates.
Highlights:
•
U.S. 4Q profit up 123%, margin 9.7%; full-year profit up 122%, margin up 310 basis points to 6.8%
•
Mexico 4Q profit up 31%; full-year profit up 61%, margin up ~500 basis points to 16.1%
•
Agreed to acquire competitor in Colombia and two asset purchases in Brazil
•
Combined revenue ~$30 million with expected closings in 2019 (not in guidance)
•
Argentine peso favorable versus 4Q guidance, but more than offset by negative FX from other currencies
•
Commitments obtained to amend and extend credit agreement to increase capacity and improve rates, subject to final agreement

Doug Pertz, president and chief executive officer, said: “Brink’s delivered strong fourth-quarter and full-year results despite persistent currency impact. Led by accelerated profit growth in the U.S. and Mexico, fourth-quarter non-GAAP EPS increased 11% and was up 46% on a constant currency basis. Non-GAAP operating profit rose 15% in the fourth quarter, more than offsetting a $27 million negative currency impact. On a constant currency basis, fourth-quarter non-

The following information was filed by Brinks Co (BCO) on Wednesday, February 6, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Brinks Co's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

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Inside Brinks Co's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statement Of Equity
Consolidated Statement Of Equity (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Operations
Accounts Receivable
Accounts Receivable (Details)
Accounts Receivable (Tables)
Accrued Liabilities
Accrued Liabilities (Details)
Accrued Liabilities (Tables)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Tables)
Accumulated Other Comprehensive Income (Loss) - Amounts In Oci (Details)
Accumulated Other Comprehensive Income (Loss) - Reclasses Out Of Aoci (Details)
Acquisitions And Dispositions Acquisitions And Dispositions
Acquisitions And Dispositions Acquisitions And Dispositions (Tables)
Acquisitions And Dispositions Acquisitions And Dispositions - Acquired Entities (Details)
Acquisitions And Dispositions Acquisitions And Dispositions - Dispositions (Details)
Acquisitions And Dispositions Acquisitions And Dispositions - Pro Forma (Details)
Capital Stock
Capital Stock (Details)
Capital Stock (Tables)
Capital Stock - Shares Used To Calculate Earnings (Details)
Debt
Debt (Details)
Debt (Tables)
Debt - Narrative (Details)
Debt Debt - Capital Leases (Details)
Debt Debt - Minimum Repayments Long Term Debt (Details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Details)
Fair Value Of Financial Instruments (Tables)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - From Acquisitions (Details)
Goodwill And Other Intangible Assets - Other Intangible Assets (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Deferred Tax Assets And Liabilities (Details)
Income Taxes - Income And Taxes From Cont. Operations (Details)
Income Taxes - Narrative (Details)
Income Taxes - Net Operating Losses (Details)
Income Taxes - Rate Reconciliation (Details)
Income Taxes - Uncertain Tax Positions (Details)
Income Taxes - Valuation Allowances (Details)
Interest And Other Nonoperating Income (Expense)
Interest And Other Nonoperating Income (Expense) (Details)
Interest And Other Nonoperating Income (Expense) (Tables)
Operating Leases
Operating Leases (Details)
Operating Leases (Tables)
Other Assets
Other Assets (Details)
Other Assets (Tables)
Other Commitments And Contingencies
Other Commitments And Contingencies (Details)
Other Liabilities
Other Liabilities (Details)
Other Liabilities (Tables)
Other Operating Income (Expense)
Other Operating Income (Expense) (Details)
Other Operating Income (Expense) (Tables)
Prepaid Expenses And Other
Prepaid Expenses And Other (Details)
Prepaid Expenses And Other (Tables)
Property And Equipment
Property And Equipment (Details)
Property And Equipment (Tables)
Reorganization And Restructuring
Reorganization And Restructuring Reorganitzation And Restructuring (Tables)
Reorganization And Restructuring Reorganization And Restructuring - Narrative (Details)
Retirement Benefits
Retirement Benefits (Tables)
Retirement Benefits - Assumptions (Details)
Retirement Benefits - Estimated Future Pension Benef Pmts (Details)
Retirement Benefits - Estimated Opeb Future Ben Pmts (Details)
Retirement Benefits - Fair Value Measurements (Details)
Retirement Benefits - Information Comparing Plan Assets To Plan Obligations (Details)
Retirement Benefits - Narrative (Details)
Retirement Benefits - Obligations And Funded Status (Details)
Retirement Benefits - Plan Asssets (Details)
Retirement Benefits - Retirement Cost (Details)
Retirement Benefits - Savings Plan (Details)
Revenue From Contracts With Customers Revenue From Contracts With Customers
Revenue From Contracts With Customers Revenue From Contracts With Customers (Policies)
Revenue From Contracts With Customers Revenue From Contracts With Customers (Tables)
Revenue From Contracts With Customers Revenue From Contracts With Customers - Comparative Periods (Details)
Revenue From Contracts With Customers Revenue From Contracts With Customers - Contract Balances (Details)
Revenue From Contracts With Customers Revenue From Contracts With Customers - Disaggregation Of Revenue (Details)
Segment Information
Segment Information (Tables)
Segment Information - Assets, Long Lived Assets, Revenues, Net Assets By Geographic Area (Details)
Segment Information - Capital Expenditures, Depreciation, Amortization (Details)
Segment Information - Information About Unconsolidated Equity Affiliates (Details)
Segment Information - Narrative (Details)
Segment Information - Revenue And Operating Profits (Details)
Selected Quarterly Financial Data (Unaudited)
Selected Quarterly Financial Data (Unaudited) (Details)
Selected Quarterly Financial Data (Unaudited) (Tables)
Share-Based Compensation Plans
Share-Based Compensation Plans (Tables)
Share-Based Compensation Plans - Compensation Expense (Details)
Share-Based Compensation Plans - Narrative (Details)
Share-Based Compensation Plans - Terms And Assumptions (Details)
Share-Based Compensation Plans Share-Based Compensation - Activity - Rsu, Psu, Msu, Dsu (Details)
Share-Based Compensation Plans Share-Based Compensation Plans - Options Activity (Details)
Subsequent Events Subsequent Events
Subsequent Events Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies Estimated Useful Lives (Details)
Summary Of Significant Accounting Policies New Accounting Standards (Details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies (Details)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (Details)
Supplemental Cash Flow Information (Tables)
Ticker: BCO
CIK: 78890
Form Type: 10-K Annual Report
Accession Number: 0000078890-19-000013
Submitted to the SEC: Tue Feb 26 2019 3:46:56 PM EST
Accepted by the SEC: Tue Feb 26 2019
Period: Monday, December 31, 2018
Industry: Arrangement Of Transportation Of Freight And Cargo

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